Non-compete fees of capital nature entitled for depreciation as intangible asset

Serum Institute Of India Ltd. Vs. Addl.C.I.T. (ITAT Pune)

ITA No.948/PN/2005. (Assessment Year: 2001-02), Date of Pronouncement: 18-01-2012.

Non-compete fees of capital nature entitled for depreciation as intangible asset- In thie case ITAT held that the non-compete fees was in the nature of capital expenditure and entitled for depreciation as intangible asset under Section 32(1 )(ii) of the Act.  ITAT followed the  in view of the

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